A billion Rakuten Trade points to offset brokerage fees up for grabs

Rakuten Trade Sdn Bhd through its rewards programme has introduced a “1 Billion RT Points Giveaway” initiative.

Since Sept 1, Rakuten Trade has allowed clients with more Rakuten Trade (RT) points for engaging with the platform, which can be used to offset brokerage fees or to convert into lifestyle rewards.

Rakuten Trade CEO Kazumasa Mise (pic) said that the move aligns with Rakuten Trade’s commitment to the Malaysian market, following recent developments such as the launch of US Fractional Share Trading and a reduction in brokerage fees from RM7 to RM1.

“To date, more than 80% of all RT points awarded are utilised to offset brokerage fees on the Rakuten Trade platform while the balance used to redeem via AirAsia Rewards, Boost and BonusLink,” he said in a statement.

In tandem with the revamp of the rewards programme, Rakuten Trade also introduced its RakuPremium programme carrying perks relevant to more experienced digital investors.

RakuPremium members are identified based on trading related qualifications including: transfer in share value of more than RM1 million or trade more than RM15 million quarterly (accumulated across all three markets).

The RakuPremium programme caters to a smaller but more experienced audience who prefer exclusive rewards tailored to their investment needs. It was designed based on the response of its current RakuElite programme, a by-invitation only membership.

As of Aug 31, 2023, Rakuten Trade had activated almost 270,000 accounts and handled more than RM120 billion in total trading value since business day one (May 2017). Its clients’ assets under administration was more than RM4 billion.